Online Education Market

Conventional education today faces challenges related to the high cost of primary as well as secondary education due to which the conventional education alone cannot meet the needs of aspiring students. With the adoption of online education, the cost of infrastructure has been lowered considerably. Online education platforms provide study material to the students at a reasonable cost. Furthermore, cloud-based online education services allow information to be accessed from any location and at any time. Also, transportation and housing costs are eliminated which propels the adoption of online education. With the growing demand for distance education programs, online education is witnessing considerable growth. Further, online skill enhancement courses are witnessing high demand among the consumers of online education market. Online education channels are capable of providing high-quality education to potential learners across the globe by bringing all the content in one place. Moreover, online study websites are gaining popularity owing to the rise in web-based competitive exams and test preparations. Thus, lower cost of education is expected to drive the demand for online education.

Adaptive learning technology is an emerging field in online education as it offers a personalized learning experience to the users. It analyzes student’s performance in real time and alters teaching methods based on their performance analysis. The platform leverages AI-based algorithms and analytical tools to identify the students’ needs and deliver targeted content services without explicit input from the student or the teacher. The utilization of adaptive learning in education and corporate sector is growing with government initiatives to develop intelligent tutoring systems. With students and learners using adaptive learning software, the teachers can analyze data and better understand each student’s requirements, and change the method of teaching, assisting the students to enrich their learning experience. The US Department of Education is investing in the development and to fuel the adoption of adaptive learning for personalized teaching in schools and colleges. Also, it is being used in various branches of the US military, including the Army Learning Concept 2015 that trains and educates soldiers for asymmetric warfare. Many schools and universities in Europe and Asia-Pacific are also using adaptive learning with the help of virtual classrooms and virtual labs, allowing students to learn according to their convenience and receive constant feedback on their performance. With its new business models, learning outcomes & testing and individualized learning experiences, adaptive learning has gained immense popularity in the K-12 online education market. Adaptive learning in corporate enterprises is in demand due to the increased flexibility of timeframes it provides for workplace learning. Moreover, adaptive learning is adopted mainly in universities to analyze individual learning patterns and personalize the learning process for them. Enterprises are also looking to adopt adaptive learning for implementing centralized assessment-based employee learning by enhancing training and bridging any skill gaps between employees. Increasing demand for adaptive learning technology and the adoption of other advanced technologies is expected to have a positive impact on the online education market during the forecast period.

Today, huge volumes of information are available online for free. The growth in massive open online courses (MOOCs) is an instance of how technology is transforming education and training delivery. MOOCs offer best-in-class curricular content which is available for free to anyone with access to the web, owing to which the MOOCs are gaining attention as a way to expand urgently needed access to higher education and workforce skills training in developing economies. These courses are openly licensed and can be used for various purposes such as teaching, learning as well as for research and others. Owing to availability of free and high-quality content, the users refrain from buying the paid versions and hence the value of paid content is seen to be diminishing. Thus, availability of abundant free-of-cost content online is hampering the growth of online education market.

Online learning tools demand high network bandwidth for live video streaming of sessions and content delivery. Many developing countries in the Middle East and Africa and Asia-Pacific are struggling to incorporate robust internet connectivity which limits the growth of online education market. Low bandwidth and unreliable internet connection in such countries make it difficult for students and individuals to stream online lectures and download or upload necessary files to complete online assignments on time. Teachers often use online materials to prepare lessons for students and broadcast them through web-based channels. Low bandwidth prevents efficient use of online educational services in educational and corporate sectors in various countries. In addition, many areas in developing regions of the world still lack broadband networks and infrastructure. Furthermore, low internet bandwidth poses technical challenges such as unclear audio and video connection in an online classroom environment. The major challenge for developing countries is inadequate capital investments due to lack of funding, which prevents citizens from accessing adequate internet connectivity. These factors present a challenge for the growth of the online education market in developing countries. However, many key players of the market are investing in emerging technologies that work with low internet bandwidth without compromising the quality of audio and video for online education services.